Spring Financial is a finance company based in Canada. The company was founded in 2014. Spring Financial is a subsidiary of Canada Drives, which is a leading auto financing company in Canada. The Chief Executive Officer is Michael Galpin. The Director is Cody Green. The Customer Relations Manager is Laura Marchand. The headquarters are located in Vancouver, British Columbia, Canada. Spring Financial offers an accessible solution for Canadians who want to establish a positive payment history.
Upon loan approval, the funds will go into a secure trust account. On a bi-weekly basis, you will be making small payments. As you pay off the loan, the payment reports will be sent to major credit bureaus, which will build your payment history. Once you have paid off the loan, the funds will be released from the trust account and deposited into your bank account. In order to be approved for the loan, you will need a valid government-issued ID, a bank statement with 30 days of transaction history, and a voided cheque. Trained agents can assist you in gathering this information. Spring Financial operates in every province and territory in Canada, except Saskatchewan, Quebec, New Brunswick, and Nova Scotia. The interest rate for the loan is 17.99%. There is a $550 setup fee that is included within the principal balance of the loan. If you miss any payments, there is a $30 NSF fee. If you can not make a payment on time, you should reach out to the Client Care department. Loan terms are usually for 12-36 months. Spring Financial’s services are ideal for people who are seeking to build their credit and paying history to qualify for car loans, mortgage, credit cards, or more items that require good credit.
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